A consortium led by existing investor Abacon and technology investor Salvia has agreed to acquire insolvent battery manufacturer Customcells. This was confirmed by the law office of insolvency administrator Malte Köster to Handelsblatt newspaper.
The purchase agreement was signed on Wednesday, stipulating that the Customcells site in Itzehoe will remain operational, with approximately 80 percent of the workforce being retained. Ongoing production, as well as research and development activities, are also slated to continue. However, the company’s second location in Tübingen, Baden-Württemberg, will be closed, according to Köster. He stated that no economically viable prospects were identified for the Tübingen facility.
Customcells serves clients in the defense, security, motorsport and mining sectors. The company is recognized as one of the few European battery manufacturers with NATO certification.
Sources familiar with the negotiations indicate that the restructuring will involve changes to the leadership structure. Jan Diekmann, the former head of innovation, is expected to join the management board, while co-managing director Benno Leuthner will remain with the company. Former CEO Dirk Abendroth will transition to an advisory role, although he will no longer hold an operational position.
The purchase price has been kept confidential. Industry sources estimate the deal to be in the low single-digit million euro range, supplemented by a double-digit million euro sum earmarked for future investments.
